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What type of loan
will suit you best? Below, we've included information on the types you may
need.
Home123 offers many tools to
make the process easy and guide you along the way.
Mortgage Calculators to enable you to
understand how much money you can save, or how much loan you can afford.
Our
Loan Checklists ensure that you can
prepare in advance all of the documentation required.
If you want to understand a
specific mortgage term, consult the
glossary, it contains simple explanations of
the terms and jargon that you may encounter during the process.
Remember that our expert
mortgage consultants can be
contacted to answer your questions and
guide you through the loan process.
Finally, feel free call with
questions
1-866-774-5172
or start an application online with our no obligation
Rapid Request.
Home Purchase Loans
Home123 offers competitive loan
products. We can help get you a loan whether you are a first time home-buyer
or if you're simply looking to purchase your next home.
Debt Consolidation Loans
A loan that gives you cash back
to pay existing debt. You may be able to lower your monthly payment or
interest rate, and possibly gain tax advantages.
Refinance Loans
This is generally the process of
obtaining a new loan on your home and using the proceeds, to pay off the
entire balance of the underlying loan, and may include receiving a cash
distribution.
Home Equity Loans (Second
Mortgage)
A loan for any purpose that is
secured by your home in addition to your primary mortgage. The most
common types of second mortgages are Home Equity Loans and Home Equity Lines
of Credit (HELOC).
Reverse Mortgages
A Reverse Mortgage, also called
a
Home Equity Conversion Mortgage (HECM), is a special type of home loan that
allows homeowners to convert the equity in their homes into cash that is
paid to them in a lump sum or in a stream of payments. With this type of
mortgage repayment not required until the borrower no longer uses the home
as a principal residence.
FHA Loans
FHA Loans are mortgages that are insured by the Federal Housing Administration
in case of default. This program helps borrowers who might not
otherwise qualify for a loan, get the financing they need. FHA insured
loans are available for both home purchases and refinancing.
VA Loans
VA Loans
are loans insured by the Veteran's Administration that are available to
individuals with military service.
Interest Only Loans
An interest
loan is a mortgage in which the borrower
pays only interest for a set term. After a set term, the loan converts
to a fully amortizing loan where both interest and principal are paid.
Interest only loans are an option for borrowers who expect their income will
increase over the term of the loan, where the loan payments are reduced in
the early years.
Many additional regional and
borrower specific programs. A Mortgage Consultant can provide further
details on each type of loan. After reviewing your situation, they can
suggest which might benefit you most.
Call
1-866-774-5172
to speak with an Expert Mortgage Consultant or apply
now
with our
Rapid Requestsm
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